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Sunland Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,300
Sunland Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.
Date | Transaction | Quantity | Price/Cost | |||
---|---|---|---|---|---|---|
1/1 | Beginning inventory | 2,300 | $16 | |||
2/4 | Purchase | 3,300 | 24 | |||
2/20 | Sale | 3,800 | 40 | |||
4/2 | Purchase | 4,300 | 31 | |||
11/4 | Sale | 3,500 | 44 |
Compute cost of goods sold, assuming Sunland uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.)
Cost of goods sold | ||||
(a) | Periodic system, FIFO cost flow | 168,700 | ||
(b) | Perpetual system, FIFO cost flow | 168,700 | ||
(c) | Periodic system, LIFO cost flow | 205,300 | ||
(d) | Perpetual system, LIFO cost flow | 195,700 | ||
(e) | Periodic system, average-cost flow | 183,827 | ||
(f) | Perpetual system, moving-average cost flow | 176,591 |
Find a easy yet simple method to solve (a) - (f) without using Excel don't over complicate it, the answers are already given to you THESE ARE NOT OPTIONS. Give a step by step of how each of these answers are solve make it simple and easy to understand.
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